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Below are Views On Market Analysis by Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets edged higher ahead of the interim budget and gained nearly a percent.  After the initial downtick, buying in select heavyweights triggered a rebound in the first half, followed by a range bound move till the end. Most sectors traded in sync with the move and ended higher wherein pharma, realty and banking were among the top gainers. The market breadth was also inclined towards the advancing side, thanks to outperformance by midcap and smallcap packs.

The recent move in the index is not giving any clear signal over the next directional move and we need a decisive close above 21,850 in Nifty to inch towards the 22,000 zone else profit taking would resume. Amid all, we reiterate our view to focus on stock selection and trade management citing the upcoming events and prevailing earnings season.

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